Women’s health startup Maven Clinic valued at $1.7 billion | Wilnesh News

Maven Clinic, a health care startup for women and families, announced Tuesday that it has completed a $125 million funding round at a valuation of $1.7 billion.

The company is committed to providing patients with virtual care throughout the reproductive lifecycle, whether they are planning a family, pregnant, postpartum or entering menopause. Maven, which has raised a total of more than $425 million, will use the new capital to invest in its fertility benefits, expand its platform and leverage immediate data to provide more proactive care to members.

Maven CEO Kate Ryder told CNBC she founded the company in 2014 after watching friends struggle to find the support they needed as they started families. Ten years later, Maven covers approximately 17 million lives through contracts with health plans and employers, including companies like Amazon, Microsoft and AT&T.

“Digital health is just the beginning,” Ryder told CNBC.

The company is the first U.S. startup dedicated to women’s and family health to achieve “unicorn” status, a valuation of more than $1 billion. Some of Maven’s investors include General Catalyst, Sequoia and Oak HC/FT, as well as Oprah Winfrey, Mindy Kaling and Reese Witherspoon Witherspoon) and other celebrities.

Ryder said Maven is currently focused on its product roadmap, but aims to eventually go to market. The company has made the CNBC Disruptor 50 list for three consecutive years.

Women’s health, specifically women’s reproductive health, is a hot issue in the upcoming election between Vice President Kamala Harris and former President Donald Trump. Ryder said Maven is willing to share the data and its policy views no matter which administration wins.

After the U.S. Supreme Court overturned Roe v. Wade in June 2022, Maven found itself in the spotlight as it worked to help employers close emerging gaps in care. In a statement, Ryder called the ruling “a devastating setback for American health care.” blog post At the time, he added that its clients could use Maven to reimburse patients for interstate travel.

After the ruling, the company’s interest in travel benefits and health care for pregnant women increased 67% from the previous quarter.

That same year, venture capital investment in women’s health companies increased 5%, according to a February report. Deloitte. In November of the same year, Maven completed a $90 million round of financing. According to the report, venture capital investment in the entire health technology market fell by 27% during the same period.

The amount of data available on women’s health is also growing, thanks in part to companies like Maven. Ryder noted, however, that the information is often bleak in the post-ROE world, especially as experts “start to see a fuller picture of preventable deaths due to limited access to care.”

“I think with more funding and research, more data points from states, from platforms like ours, you can start to point out and paint a complete picture of what’s going on, and that can help,” Ryder said. Making policy better “The question is, honestly, when? How many people need to suffer needlessly at the same time? “